Just when we thought home loan rates couldn't get any more competitive, UBank has unveiled a stellar new 3 year fixed rate of 1.75% (2.25% comparison rate*) on its popular UHomeLoan.
This is now the lowest 3 year fixed home loan rate in the Mozo database, sitting well below the average 3 year fixed rate of 2.37%.
The only catch is you have to get in quick. To snap up UBank's new rate, you'll need to apply by 29 April and have your application settled within 90 days. Luckily, UBank has a super efficient online application process to make this a breeze.
“Rates are at an all-time low. If you’ve been toying with the idea of fixing all or some of your home loan, then I encourage you to explore the most competitive rates, as you could be saving thousands," says UBank's chief executive, Philippa Watson.
UBank says this rate drop could potentially save borrowers $16,740 in interest payments over the full 3-year fixed term (or $465 per month), on a $480,000 owner occupied P&I home loan.
The move follows hot on the heels of cuts to UBank's variable home loan rates late last year, so if you're looking for a better value home loan that could save you thousands, read on for our expert rundown of UBank's stellar new offers to find out if it's time to make the move to this award-winning lender….